CNN begins layoffs in what CEO says will be a 'gut punch' to the network | CNN Business

New York CNN Business  — 

CNN on Wednesday informed employees that layoffs had commenced, a move that is expected to impact hundreds of staffers at the global news network and mark the deepest cuts to the organization in years.

Chris Licht, who took over as chief executive of the network in May, described the cuts in an all-staff memo as a “gut punch” to the organization and told employees that “it is incredibly hard to say goodbye to any one member of the CNN team, much less many.”

Employees at the company had been anxiously bracing for

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